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A silver lining on ominous Brexit storm clouds

In the words of Mark Carney, the governor of the Bank of England, Britain is suffering from “economic post-traumatic stress disorder”.

A former fund manager at one big UK institution says: “I lost my job this year because the group is struggling to compete with passive funds.

These guaranteed returns set at, say, 3 per cent a year when bond yields were higher, cannot be met if yields remain low.

One hundred company directors in the FTSE 100 and FTSE 250 bought shares worth a total of £14.3m, the biggest bargain hunt for shares since figures were first compiled by Olivetree Financial, the brokers, in May 2006 .

As the company’s shares fell 30 per cent last Monday, Mr Pidgley snapped up 35,000 at a cost of £795,000 .